PVE 7.32% 4.4¢ po valley energy limited

look out below, page-7

  1. 5,515 Posts.
    lightbulb Created with Sketch. 329
    There is big risk in doubling down like I have, and I wouldn't normally do that (catch a falling knife), after my experiences with that in 2008. However, most of my bad experiences were due to the market as a whole declining & happened over weeks/months, not in one day. I probably haven't caught the bottom, but my stake is relatively small & I do believe it is oversold. There is obviously no confidence in the company at present, but any good news & I think there'll be a massive spike in the share price. The annual report looked fairly good and Euroz have a buy on the stock (pre today's news) of approx $2. Sillaro is the bigger field so a large part of their valuation can be attributed to that. I hope for all our sake that Sillaro is on schedule & produces to expectation. If not, then the stock will probably halve again. As a footnote, I should've gone with my gut instinct re the technical chart & not placed a bid when I did (early April). The chart looked sick at the time. I'm in for the ride now though, so we'll just have to see where it takes us.
 
watchlist Created with Sketch. Add PVE (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.